African News

Trade and Development Bank, USAID sign Power Africa MoU

Nov 11, 2018

The Eastern and Southern African Trade and Development Bank (TDB) and USAID’s Power Africa initiative have today signed a memorandum of understanding (MoU) that will finance power projects in 22 African countries. The memorandum was signed at African Development Bank’s inaugural Africa Investment Forum, where emphasis on investment is at the core of tens of…

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ZPC, Intratrek dispute over Zimbabwe solar project rages on

Nov 11, 2018

Intratrek Zimbabwe, which is entangled in contractual dispute with Zimbabwe Power Company (ZPC) over the Gwanda solar plant, has filed submissions to the High Court seeking an order compelling ZPC to allow it to fulfill terms of the project agreement or be paid $25 million damages for breach of contract. This comes after a dispute…

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FAR’s Samo-1 well offshore Gambia disappoints

Nov 11, 2018

FAR Limited reports that the Samo-1 exploration well in block A2, offshore The Gambia has been drilled to a total depth of 3240m and wireline logging is nearing completion. The well operations to date have been conducted safely, efficiently, ahead of schedule and within budget. Interpretation of the wireline logs so far indicates that the…

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Panoro to acquire OMV Tunisia Upstream GmbH for $65m

Nov 11, 2018

London-based independent E&P company Panoro Energy’s Norwegian subsidiary Panoro Tunisia Production AS has signed an agreement with OMV Exploration and Production GmbH to acquire 100 per cent of the shares of OMV Tunisia Upstream GmbH for a transaction value worth US$65mn. OMV Tunisia holds a 49 per cent interest in five oil-producing concessions in Tunisia…

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Power Africa launches Transmission Roadmap to 2030

Nov 11, 2018

Power Africa, the U.S. government-led initiative coordinated by the United States Agency for International Development (USAID) to double electricity access in sub-Saharan Africa, launched its newest publication, the “Transmission Roadmap to 2030: A Practical Approach to Unlocking Electricity Trade” at the African Investment Forum on Wednesday, November 7.  The Roadmap helps prioritize 18 projects that could unlock…

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S. Sudan oil outlook hinged on shaky peace deal – WoodMac

Nov 10, 2018

South Sudan’s optimism about restoring oil output to 350,000 barrels a day depends on the success of a recent peace deal and both are unlikely, according to Wood Mackenzie Ltd. Crude production fell by about two-thirds to 130,000 barrels per day as blocks were shut-in during a conflict that erupted in late 2013, after a…

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SINN Power begins 2nd phase of renewable energies project in Guinea

Nov 10, 2018

SINN Power is gathering the necessary data to evaluate the renewable energy potential in Conakry, Guinea, considering wave, wind and solar resources. SINN Power has initiated the second phase of this project on behalf of customer Guinea Gold PLC. This involves installing an autonomous measurement station for wave, wind and solar data. During a first…

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New South Africa wind projects promise to boost employment

Nov 10, 2018

South Africa’s wind energy industry was under the spotlight this week at the 2018 Windaba in Cape Town. Among the key themes at this year’s event, the first event since the lifting of the REIPPP impasse, was on growing investment in the industry. Anne Henschel, managing director of Nordex South Africa and South African Wind…

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CGG announces fast-track 3D seismic data from Mozambique multi-client survey

Nov 9, 2018

CGG announced during Africa Oil Week that the fast-track 3D seismic data from its recent Mozambique multi-client survey in the outer Zambezi Delta Basin is now available for licence. Interested international oil companies with an Africa focus can view the high-end data set in CGG data rooms in anticipation of the country’s 2019 licensing round. The data covers a 15,400 km2 area…

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Gabon launches offshore licensing round, to scrap corporate tax

Nov 9, 2018

Gabon has launched a new offshore exploration licensing round for 34 oil and gas blocks and plans to soon enact new legislation that would scrap the 35-percent corporate tax on energy companies, Gabon’s Oil Minister Pascal Ambouroue said at an oil conference on Wednesday. OPEC member Gabon, a country on Africa’s West Coast, wants to…

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